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Compliance Risk Audit

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Compliance Risk Audit

We provide diverse labour law due diligence and vendor audit services that help your business understand compliance health, by conducting various gap assessments of their internal processes, and those of your vendors, we ensure proactive measures to mitigate compliance risk.

Who Needs Compliance Risk Audit Services?

Any business or industry that handles sensitive information, provides critical services, or is subject to regulatory oversight requires Compliance Risk Audit Services. This includes financial institutions, healthcare organizations, manufacturers, technology companies, and retailers. Our services are vital for:

  • Business start-ups
  • Mergers & acquisitions
  • Beyond more stoic this along goodness hey this
  • Varied business models
  • Businesses with a presence across different locations

Our Comprehensive Services

Consultation on Applicability of Labour & Industrial Laws

  • Detailed analysis of relevant laws applicable to your industry and business operations.
  • Guidance on compliance requirements, including updates and amendments, through thorough regulatory due diligence.

Consultation on Employee Benefits and Liabilities:

  • Advice on minimum wage, employee compensations, gratuity, ESI (Employee State Insurance), EPF (Employee Provident Fund), and bonus liabilities.
  • Ensuring accurate calculation and adherence to statutory obligations, utilizing a compliance due diligence checklist.

Expert Consultation

  • Expert advice for strategic decision-making related to labour and industrial law compliance
  • Recommendations for course correction to enhance compliance and mitigate risks effectively through compliance due diligence

Compliance Risk Audit & Assessment

  • Criticality assessment of Financial, Prosecution & Reputational Risks for the company on Labour & Industrial laws
  • Compliance risk assessment for the Company, Board of Directors, Independent Directors, Shareholders, and Investors on Labour & Industrial Laws
Get a Quote from our Compliance Risk Audit Team! Contact
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Why Do You Need Compliance Risk Audit Services?

  • Identify and Mitigate Risks
  • Ensure Compliance
  • Avoid Penalties and Fines
  • Build Trust with Customers
  • Improve Operations

Frequently asked questions

A compliance audit is a systematic examination of an organization’s practices, policies, and procedures to determine its adherence to labour laws and regulations. It involves identifying all the applicable compliances, assessing the effectiveness of existing processes and identifying areas of non-compliance.

  • Risk Assessment: Conducting a thorough evaluation of the organization’s current operations, regulatory environment, and potential threats.
  • Internal Controls Assessment: Assessing the effectiveness of internal controls designed to mitigate compliance risks.
  • Regulatory Analysis: Staying updated on relevant laws and regulations and understanding their implications for the organization.
  • Third-Party Assessments: Evaluating the compliance practices of third-party vendors and contractors, including their payroll related compliances like PF and ESI.
  • Detailed reporting: (Please elaborate)
    A comprehensive compliance risk audit can uncover these risks, helping organizations take corrective measures.

  • Risk Assessment: Conducting a thorough evaluation of the organization’s current operations, regulatory environment, and potential threats.
  • Internal Controls Assessment: Assessing the effectiveness of internal controls designed to mitigate compliance risks.
  • Regulatory Analysis: Staying updated on relevant laws and regulations and understanding their implications for the organization.
  • Third-Party Assessments: Evaluating the compliance practices of third-party vendors and contractors, including their payroll related compliances like PF and ESI.
  • Detailed reporting: Communicating audit findings to management and the board of directors through a detailed report
    A comprehensive compliance risk audit can uncover these risks, helping organizations take corrective measures.

  • Conducting Compliance Audits: Assessing an organization’s adherence to labour laws, regulations, and internal standards through an exhaustive checklist of complaince tasks.
  • Identifying Non-Compliance: Spotting areas where the organization is not in compliance with applicable requirements.
  • Assessing Internal Controls: Evaluating the effectiveness of internal controls designed to mitigate compliance risks.
  • Recommending Improvements: Providing recommendations to address identified non-compliance issues and strengthen the organization’s compliance posture.
  • Reporting Findings: Communicating audit findings to management and the board of directors.
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